How could El Niño and climate change impact your investments?

The first half of 2026 was disrupted by geopolitics. As we sweat through a sweltering summer, could the climate be the major driver in the second half?Europe’s heatwaves have already had noticeable economic impacts. Barges transporting goods along the Rhine have had to reduce their capacity thanks to lower water levels, while France cut its nuclear power output because rivers were too warm to cool reactors.And the brewing El Niño – a weather pattern characterised by rising sea